State Tax Collections: T41 Corporation Net Income Taxes for Rhode Island
QTAXT41QTAXCAT3RINO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
146.00
Year-over-Year Change
17.74%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the net income tax revenue collected by the state government of Rhode Island. It is an important indicator of economic activity and corporate profitability within the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Tax Collections: T41 Corporation Net Income Taxes for Rhode Island series tracks the total amount of net income taxes paid by corporations to the Rhode Island state government. This data provides insight into the financial health and taxable profits of businesses operating in the state.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government tax revenue sources.
Historical Context
Policymakers and analysts use this trend to assess Rhode Island's economic conditions and revenue outlook.
Key Facts
- Rhode Island's corporate income tax rate is 7%.
- This trend has shown volatility over the past decade.
- Corporation net income taxes account for around 10% of Rhode Island's total tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net income tax revenue collected by the state government of Rhode Island from corporations operating in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the financial health and profitability of businesses in Rhode Island, which is important for assessing the state's economic conditions and revenue outlook.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government tax revenue sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand Rhode Island's economic conditions and revenue outlook, which informs decisions about taxation, spending, and other fiscal policies.
Q: Are there update delays or limitations?
A: There may be delays in the availability of the latest data, as it is collected and reported by the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for Rhode Island (QTAXT41QTAXCAT3RINO), retrieved from FRED.